Understand what you would like, but we just have a snippet of activity and not a lot of details.
I would recommend you get something like Quickbooks as it will pull together a balance sheet for you.
Based on the limited details:
- At one point you had cash as follows
- Contributed capital $10,000 - this is an assumption based on how you presented the information
- Loan $250,000
- PPP funds $40,000
- Income $75,000
- These total $375,000
- Then you have expenses as presented:
- Salary $20,000
- Building $200,000
- Operating expenses $25,000
- These total $245,000
Based on the above, I would expect to see:
Assets:
Cash $130,000
Construction in Progress $200,000
Total assets $330,000
Liabilities and Equity:
Shareholder loan $250,000
PPP Loan $40,000
Contributed capital $10,000
Retained earnings $30,000
Total liabilities and equity $330,000
This makes some sense as you indicate $75,000 income and $45,000 expenses which total $30,000 for the retained earnings.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
